JOLL DAIRY COMPANY.

Taranaki Daily News, 20 August 1921, Page 7

JOLL DAIRY COMPANY.

THE ANNUAL REPORT. The thirteenth annual report of the working of the T. L. Joll Co-op. Dairy Company, Ltd., is as follows: Your directors take the opportunity of congratulating the shareholders on the completion of another successful season. The past season’s output of cheese was consigned Homo on open consignment through the firm of Lovell and Christmas, Ltd. Owing to various delays in shipping, about half the season’s output was still unsold on June 30. As the last of the season’s make was not expected to leave New Zealand until about the end of July, suppliers will see that it will be some time yet before the final pay-out for the season can be adjusted. For balance-sheet purposes, the valuation on this cheese has been made at 8d per lb f.o.b. Should the present improvement in the cheese market be maintained, the amount realised should show a material increase on the valuation price. The output of butter for the past season was again commandeered by the Imperial Government, tiie price paid being 2s 6d per lb f.o.b. for creamery butter and 2s 4d for whey butter. Your directors deemed it advisable during the year to turn several branches into butter making. This meant a good deal of outlay in the butter factory, and accounts for the repairs and renewals account appearing higher than usual. Following their usual custom, the directors have placed to reserve the credit balance for the year on the following accounts: Bulk store, £267 16e 3d; garage, £123 16s sd; farm, £49 13s 10d; transfer fees, £3 17s 6d. For butterfat supplied during the past season suppliers have been paid at the rate of Is 9d per lb, and there still remains a credit balance to appropriation account, amounting to £33,948 6s 2d to be dealt with. Your directors recommend that out of this a dividend at the rate of 5 per cent, per annum be paid to all shareholders holding fully-paid-up shares, and that the balance be paid to supplying shareholders, pro rata, on all butterfat supplied throughout the year. This will bring the payment up to 2413-16 d per lb butterfat, with the prospect of a further payment, as already stated, in accordance with the price realised for cheese.

The retiring directors are: Messrs. T. Walsh, W. Slattery and W. F. Lyndon. Two of these —Messrs. T. Walsh and W. Slattery—offer themselves for re-election. Mr. H. A. Lennon again offers his services for the position of auditor.

Statistics for the year are as follows: Milk received, 53,026,9641b5; butterfat, 2,071,896.6 lbs; average test, 3.907 per cent. Used for cheese-making.—-Pounds of milk, 42,601,033; pounds of butterfat, 1,635,782.6; average test, 3.83; cheese made, 4.310,8501bs (1924 tons 9cwt., 2 qr, 261bs) ; milk to lib cheese, 9.881b5; yield of cheese per lb butterfat, 2.631b5. Used for butter-making.—Pounds of milk, 10,425,931; pounds of butterfat, 436,114/ average test, 4.18; butter made, 514,7011bs (224 tons, 15cwt, 2qrs., 51bs) ; milk to lib butter, 20.251b5; overrun, 18.01 per cent. The working account showed that receipts for butter were £57,226 4s sd, and cheese £224,341 18s lid, a total of £281,568 3s 4d. Against this the working expenses were: Manufacturing charges, £25,999 7s 3d; trade charges, £556 9s Id; export charges, £32,905 2s 4d; general charges, £6462 19s 3d; depreciation, £l7§9 14s sd; leaving a balance to appropriation account of £33,418 10s 4d.